foreign funds sold down their shareholdings in Malaysian equities in the week ended Sept 24 with net selling at RM1.268bil.
KUALA LUMPUR: The local bourse snapped a three-session gain streak to lose as much as 0.6%, dampened by across-the-board selling following bearish regional sentiment as investors awaiting the next move in the escalating trade fight.
At 5pm, the benchmark FBM KLCI shed 10.47 points to 1,800.17. The index opened 1.41 points lower at 1,809.23 this morning. The market barometer moved between 1,797.35 and 1,812.19 throughout the day.
Dealers said market participants stayed on the sidelines awaiting the next move in the escalating trade fight.
Share trade value across Bursa Malaysia down at RM1.499bil with a total volume of 1.64 billion units.
Broader market sentiment continued to be weak, with losers outpaced gainers 304 to 530, with 347 counters unchanged.
On Bursa Malaysia, Carlsberg is biggest loser, easing 40 sen to RM19.22. United Plantations shed 30 sen to RM26.82 and MPI lost 30 sen to RM12.90.
Among the banks, Hong Leong Bank fell 22 sen to RM20.60, Public Bank shed six sen to RM25, RHB Bank lost five sen to RM5.40 while Maybank closed unchanged at RM9.79.
Hibiscus Petroleum is the most actively traded counter with 96.98 million shares done. The counter rose six sen to RM1.13 after BIMB Secuties upgraded it to “buy” from “hold” previously with a DCF-derived target price of RM1.35.
Key markets Japan, China and South Korea were closed on Monday due to Mid-Autumn festivals and holidays.
Hong Kong’s financial markets will be closed on Tuesday, Sept. 25, for the Mid-Autumn Festival. Markets will resume trading on Wednesday, Sept. 26.
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